How Real US Money Became Bogus, aka, Fiat, Money

This is silver money. It is in fact and in law a one dollar coin as provided for by the Coinage Act of 1792. It is in conformity with the dollar referred to in the 7th Amendment to the Constitution.

This is not a dollar. It is a promise to pay a dollar. (The words under Washington’s image read: “Will Pay To The Bearer On Demand ONE DOLLAR”)

This is a broken promise to pay a dollar. (The phrase under Washington’s image “ONE DOLLAR” is a misrepresentation. This is neither in fact nor in law a dollar. Even though it says NOTE, it is not a promissory note.)

Broken promises to pay money cannot retain purchasing power. The history of legal tender irredeemable paper-ticket-electronic money is that its purchasing power always approaches the cost of producing paper money: near zero! Savers and pensioners will be wiped out.

United States Gold Money

This is gold money. It is in fact and in law a U.S. Eagle gold coin as provided for by the Coinage Act of 1792 and in conformity with Article 1 Section 10 of the Constitution.

This is not money. It is a promise to pay money. (The words under Jackson’s image read: “Twenty Dollars In Gold Coin Payable To The Bearer On Demand”)

This is a broken promise to pay money. (The phrase under Jackson’s image “TWENTY DOLLARS” is a misrepresentation. This is neither in fact nor in law twenty dollars. Even though it says NOTE, it is not a promissory note.)

Savers, seniors and all those engaged in productive enterprise are at unacceptable risk that the purchasing power of promised future payments — pensions, savings, annuities, insurance, etc. — will be an empty bag. The monetary authorities have made it official policy to depreciate the purchasing power (a.k.a. “inflation targeting”) of our broken-promise “money” and may create unlimited quantities to “stimulate” the economy and to distribute them to whomever. If not fixed, the middle class will be wiped out.